NIFTY VIEW SEP 11

Hi,

Yesterday our resistance was 5407 and support was 5352 and NF has remained between these two levels with one of the lowest volumes of recent past.

Today, while updating this SGX nifty is trading at 5356.

Today’s trading levels for Nifty Future:

Resistance: 5407-5463-5524

Support: 5359-5352-5337-5326-5314-5286-5275

Today again, 5407 is an immediate and important resistance for NF. Bears will try their best to protect this level. If NF manages to cross and sustain above this level then expect 5463. On crossover above 5463 will take NF to 5524.

On lower side 5359-5352 are immediate supports for NF. In good control of bulls, they will protect these levels. Break below these levels will take NF to 5337-5326-5314. Below 5326, NF may fill the gap of 5326-5285.

In hourly chart NF has entered in to over bought area. Although NF is in uptrend but we will advise to avoid any buying position. Charts are indicating some problem which may lead to sharp sell off in coming days.

Alert: Chinese Shanghai composite index is around 3years low and no one is discussing about it. Day by day china’s Shanghai composite index is making new lows, why??????

Shanghai has given some sharp bounce. Genuine or a trap???

Regards,

ANALYSENIFTY TEAM